50 Drivers of change in the Public Sector - km.anm.gov.my Drivers of Change in the Public... · New industries and production models 12 < 5 years ... Accountancy profession in the

50 Drivers of change in the Public Sector A spotlight on

Malaysia Maggie McGhee

Director –Professional insights

August 2017

©ACCA

Professional accountant in the public

sector

OverviewTop

drivers of change

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1,100survey respondents

13roundtables in

11countries

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Key

findings

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EconomyPolitics

and law

Environment,

energy and

resources

Business of

governmentSociety

The

accountancy

profession in

the public

sector

Science and

technology

The

practice of

accounting

Drivers of change – 8 themes

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Top 10 ranking of the 50 drivers of changeRANK GLOBAL DRIVERS THEME

1 The level of economic growth Economy

2 Quality and availability of the global talent pool Business of Government

3 Business leader responsiveness to change and disruption Business of Government

4 Use of Public Private Programmes (PPPs) Business of Government

5

Big data: the development and exploitation of large

organisational databases, data mining and predictive

analytics

Science and technology

6 Non-financial information and integrated reporting The accountancy profession

7 Stability of the global economic infrastructure Economy

8 Cyber security challenges for government Science and technology

9 Stability of national revenue bases Economy

10 Spread of diversity in society and the workplace Society

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Top 10 ranking of the 50 drivers of changeRANK MALAYSIA DRIVERS THEME

1 Quality and availability of the global talent pool Business of Government

2 The level of economic growth Economy

3 Use of Public Private Partnerships (PPPs) Business of Government

4 Manageability of national and international debt Economy

5

Big data: the development and exploitation of large

organisational databases, data mining and predictive

analytics

Science and technology

6Stability of the global economic

infrastructureEconomy

7 Stability of the national revenue bases Economy

8Balance between external financial accounting and

internal managerial accountingPractice of accountancy

9 Spread of diversity in society and the workplace Society

10 Accounting skills capacity in transitional economies The accountancy profession

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Economy

TOP THREE DRIVERS – GLOBAL OVERALL RANK IMPACT

The level of economic growth 1 < 5 years

Stability of the global economic infrastructure 7 < 5 years

Stability of national revenue bases 9 < 5 years

TOP THREE DRIVERS – MALAYSIA OVERALL RANK IMPACT

The level of economic growth 2 < 5 years

Manageability of national and international debt 4 < 5 years

Stability of the global economic infrastructure 6 < 5 years

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Politics and law


Governance and delivery of outsourced public

services22 < 5 years

Level of international political volatility 24 < 5 years

Focus of global governance institutions 26 < 5 years


Rate of democratic transition 14 < 5 years

Focus of global governance institutions 24 < 5 years

Level of international political volatility 27 < 5 years

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Society


Spread of diversity in society and the workplace 10 < 5 years

Workforce age structure 11 5+ years

Scale and distribution of global population

growth25 < 5 years


Spread of diversity in society and the workplace 9 < 5 years

Workplace expectations of Generation Y, Z and

beyond18 5+ years

Cost and ease of access to higher education 23 < 5 years

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Business of Government

TOP THREE DRIVERS - GLOBAL OVERALL RANK IMPACT

Quality and availability of the global talent pool 2 < 5 years

Business leader responsiveness to change and

disruption3 < 5 years

Use of Public Private Programmes (PPPs) 4 < 5 years

TOP THREE DRIVERS - MALAYSIA OVERALL RANK IMPACT

Quality and availability of the global talent pool 1 < 5 years

Use of Public Private Programmes (PPPs) 3 < 5 years

Speed and duration of business cycles 11 < 5 years

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Science and technologyTOP THREE DRIVERS – GLOBAL OVERALL RANK IMPACT

Big data: the development and exploitation of

large organisational databases, data mining and

predictive analytics

5 < 5 years

Cyber security challenges for government 8 < 5 years

The digitisation of work 18 < 5 years


Big data: the development and exploitation of

large organisational databases, data mining and

predictive analytics

5 < 5 years

New industries and production models 12 < 5 years

Cyber security challenges for government 28 < 5 years

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Environment, energy and resources


Competition for limited natural resources 15 < 5 years

Global climate change 21 5+ years

Scale of take-up in alternative energy by

organisations31 < 5 years


Competition for limited natural resources 15 < 5 years

Carbon tax and other environmental market

mechanisms20 < 5 years

Global climate change 25 5+ years

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Practice of accountingTOP THREE DRIVERS – GLOBAL OVERALL RANK IMPACT

Non-financial information and integrated

reporting6 < 5 years

Balance between external financial accounting

and internal managerial accounting13 5+ years

Clarity in financial reporting and defining the

audit function14 < 5 years


Balance between external financial accounting

and internal managerial accounting8 < 5 years

Opportunities arising from global regulation 13 5+ years

Clarity in financial reporting and defining the

audit function16 < 5 years

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Accountancy profession in the public sector


Accounting skills capacity in transitional

economies19 < 5 years

Flexibility, suitability and cost of accountancy

training20 < 5 years

Level of entrepreneurial skills in the accountancy

profession27 < 5 years


Accountancy skills capacity in transitional

economies10 < 5 years

Level of entrepreneurial skills in the accountancy

profession19 < 5 years

Flexibility, sustainability and cost of accountancy

training29 < 5 years

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Public sector

professional

accountants

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Finance function of the future

Embracing technology

Lean and agile

Greater commercial focus

Provider of more and better information

Visionary, more responsive and less reactive

Innovative and creative thinkers

Balance short term and long term

Talented

Maintaining core ethical values

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Skills required by the public professional accountant

Strong technical and professional skills

Professional judgement

Communications

Leadership and management skills

Vision

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Professional quotients for success

Questions?

Thank you

Documents

50 Drivers of change in the Public Sector - km.anm.gov.my Drivers of Change in the Public... · New industries and production models 12 < 5 years ... Accountancy profession in the